14 April 2014, 15:45

Crisis in Ukraine: Maidan activists protest against interim gov't in Kiev

Crisis in Ukraine: Maidan activists protest against interim gov't in Kiev

If Kiev fails to respond to demands of the people and moves to stabilize the economy, mass anti-government protests will sweep Ukraine, warned activists of the "For a Decent Life" movement led by Irina Bogdanets as they rallied in Independence Square in the Ukrainian capital on Monday.

"Life in Ukraine has grown unbearably worse over the past week. It’s a 21st -century holocaust: food prices doubled, medicine prices rose by 50 percent, housing and communal tariffs, including gas tariffs, were raised by 50 percent, minibus fare in Kiev doubled," Bogdanets told reporters.

"Every day, they warn us that the authorities will start removing the barricades in maidan and ask to go home. And those initiatives come from the entourage of maidan’s former commandant Stepan Kubiv, who is now National Bank President. Who could have imagined that the new government would be a tyrant? Maidan activists are now rallying against the new rulers. We are demanding measures to stabilize the economic situation, or otherwise Ukraine will be swept by mass protests: budget sector workers, pensioners, students – they will all take to the streets," she said.

On April 9, Kiev residents rallied near the National Bank building in support of their demands for economic stabilization. The bank’s president, Stepan Kubiv, came out to the demonstrators and said that one month was not enough and that he needed more time to get his bearings.

Meanwhile, Ukrainians are withdrawing cash from banks. In March, total individual deposits in Ukrainian banks shrunk by around 6 percent or 26 billion hryvnias (around 72.5 billion rubles) and total corporate deposits decreased by 3 percent.

Banks are trying to reverse the situation by offering higher interest rates on deposits. But most clients are scared.

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